10yr Technicals
The 10yr has given back more than half of Thursday’s 38-tick gain as equities push higher in the lunch hour. The 10yr has fallen through its 9-day moving average (114-27), down more than half a handle to 114-23. Support lies below at the 21-day moving average (114-13) and further at the 200-day (113-29). With no data to go on today, bonds could be in for a rough ride if the equity rally maintains steam.